On Tuesday, Versartis Inc (NASDAQ:VSAR)’s shares declined -18.42% to $10.72.
Versartis, Inc. (VSAR), declared that the US Food and Drug Administration (FDA) has removed the partial clinical hold on the Company’s Investigational New Drug Application for VRS-317. With this action, the Company will proceed with the Phase 3 registration trial, VELOCITY, of VRS-317 in children with GHD.
The Company reaffirmed its formerly stated anticipated milestones for the VELOCITY Phase 3 clinical trial, counting interim 6-month mean height velocity data by the end of 2016 and top line data on the 12-month mean height velocity primary endpoint by mid-2017, enabling a potential Biologics License Application submission, followed by a potential FDA approval by late-2018.
Versartis, Inc., a development stage company, operates as an endocrine-focused biopharmaceutical company in the United States. The company is developing VRS-317, a long-acting recombinant human growth hormone, which is in Phase 3 clinical trials for the treatment of growth hormone deficiency.
ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS)’s shares gained 1.45% to $55.18.
Isis Pharmaceuticals, Inc. (ISIS) stated net income of $35.6 million and $18.9 million for the three and six months ended June 30, 2015, respectively, contrast to a net loss of $12.1 million and $43.4 million for the same periods in 2014. Isis’ significantly improved financial results were driven primarily by the more than $90 million of revenue Isis earned in the second quarter related to the upfront payment from Bayer to license ISIS-FXIRx. Isis raised its cash position during the first half of 2015, ending June with more than $750 million in cash contrast to about $730 million at December 31, 2014. The enhance in the Company’s cash position was primarily due to the more than $165 million in cash received from its partners in the first half of 2015.
Isis Pharmaceuticals, Inc. engages in the discovery and development of antisense drugs using novel drug discovery platform. The company’s flagship product comprises the KYNAMRO injection, which is an apo-B synthesis inhibitor for patients with homozygous familial hypercholesterolemia; and for the reduction of low-density lipoprotein cholesterol.
At the end of Tuesday’s trade, Voya Financial Inc (NYSE:VOYA)‘s shares surged 0.89% to $42.94.
Voya Financial, Inc. (VOYA), declared that its broker-dealer, Voya Financial Advisors, has launched a hybrid registered investment advisory (RIA) platform. As a result of this launch, certain financial advisors associated with Voya Financial Advisors have the ability to operate with greater flexibility to meet a wide range of customer needs while enabling them to build and expand their practices. The broker-dealer’s advisory business grew to $9.92 billion in 2014, up 25 percent from the previous year, reflecting a focus on positioning advisors to deliver holistic advice that can assist clients get ready to retire better by planning, investing and protecting their savings.
One of the major themes in the independent financial advisor space in recent years has been the noteworthy growth of the hybrid RIA firm. Between 2004 and 2013, the number of advisors who adopted a hybrid RIA business model grew 21.8 percent annually, according to Cerulli Associates’ 2014 Intermediate Distribution report.
Voya Financial, Inc. operates as a retirement, investment, and insurance company in the United States. The company has five segments: Retirement, Annuities, Investment Administration, Individual Life, and Employee Benefits.
SEI Investments Company (NASDAQ:SEIC), ended its Tuesday’s trading session with -0.10% loss, and closed at $50.50.
SEI Investments Company ( SEIC ) declared financial results for the second-quarter 2015. Diluted earnings per share were $.51 in second-quarter 2015 contrast to $.48 in second-quarter 2014.
Second-Quarter Business Highlights:
- Revenue growth was primarily driven by higher Asset administration, administration, and distribution fees from market appreciation and improved cash flows from new and existing clients.
- Sales events, net of client losses, during second-quarter 2015 totaled about $45.2 million and are predictable to generate net annualized recurring revenues of about $32.0 million when contract values are fully realized. Net annualized recurring and one-time revenues comprise a noteworthy sale of the SEI Wealth Platform to a current major U.S. client.
- Our average assets under administration, not taking into account LSV, raised $12.8 billion, or 8 percent, to $177.1 billion in the second-quarter 2015, as contrast to $164.3 billion during the second-quarter 2014.
- Our average assets under administration raised $47.7 billion, or 14 percent, to $396.2 billion in the second-quarter 2015, as contrast to $348.4 billion during the second-quarter 2014.
SEI Investments Co. is a publicly owned investment manager. The firm provides wealth administration and investment advisory services to its clients through its auxiliaries. Through its auxiliaries, it provides its services to corporations, financial institutions, financial advisors, high net worth families, banks and trust institutions, investment advisors, financial planners, not-for-profit organizations, and pension plans. The firm manages separate client-focused portfolios through its auxiliaries.
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